BBVA goes DIY on digital banking with Domo analytics

Multinational 186-year-old banking group BBVA wants to evolve from its legacy heritage to a digital company, by designing its tech around the needs of its customers and removing the pain points around managing money. BBVA wants to do this by empowering customers to have a do-it-yourself banking experience in which they can choose where, when and how they bank. To get this right, the bank needed a deep understanding of customer needs and desires as they change over time.

Fending Off Tech Giants Through Digital Transformation» 

Tech titans like Google, Amazon, Facebook and Apple are setting their sights on the financial services sector, blurring the lines between industries and rolling out financial services that offer consumers increasingly competitive banking experiences. These tech companies are becoming a disruptive force in the banking industry as they grab market share in payments, consumer loans and even small business loans. Tech companies challenging industry status quo Banks are starting to feel the impact of tech …

U.S. Fintech Firm to Buy Worldpay for $35B in Biggest Ever Digital Payments Deal

Fidelity National Information Services Inc. (FIS) agreed to buy Worldpay for about $35 billion on Monday, with the U.S. financial services provider striking the biggest deal to date in the fast-growing electronic payments industry. The financial technology sector is consolidating fast, with global payments set to reach $3 trillion a year in revenue by 2023 as more people switch from cash to digital payments for online and high street sales, consulting firm McKinsey predicts.

Artificial Intelligence: the New Energy

As with all emerging technological trends, some elements of artificial intelligence (AI) are hyped out of proportion, some elements are ahead of their time and some even incite fear. However, there remains some truth beneath the hype, cycles and buzzwords. Advancements in AI stand to benefit the energy sector but come with own limitations and practical concerns.

The U.S. DoD wants to dominate Russia and China in Artificial Intelligence. Last week gave us a glimpse into that vision.

The first wave, which was nearly 70 years ago, emphasized handcrafted knowledge, and computer scientists constructed so-called expert systems that captured the rules that the system could then apply to situations of interest. However, handcrafting rules was costly and time-consuming. The second wave that brought in machine learning that applies statistical and probabilistic methods to large data sets to create generalized representations that can be applied to future samples. However, this required training deep learning (artificial) neural networks with …

Stanford University launches the Institute for Human-Centered Artificial Intelligence

Stanford University is launching a new institute committed to studying, guiding and developing human-centered artificial intelligence technologies and applications. The Stanford Institute for Human-Centered Artificial Intelligence (HAI) is building on a tradition of leadership in artificial intelligence at the university, as well as a focus on multidisciplinary collaboration and diversity of thought. The mission of the institute is to advance artificial intelligence (AI) research, education, policy and practice to improve the human condition.

Welcome to Athens: Tezos Completes ‘Historic’ First Blockchain Vote

The multimillion-dollar blockchain Tezos has officially concluded its first round of voting for two competing system-wide upgrade proposals. Not without its fair share of internal governance conflicts, today marks the official close of the first round of voting on the Tezos blockchain. The two proposals dubbed ‘Athens A’ and ‘Athens B’ are the first of its kind to undergo Tezos’ protocol amendment procedures, designed to roll out system-wide upgrades otherwise known as hard forks in an entirely …

95% Of Reported Bitcoin Trading Volume Is Fake, Says Bitwise

CoinMarketCap reports approximately $6 billion per day in bitcoin trading volume, but the actual figure is $273 million, or roughly 4.5% of the reported amount, according to Bitwise. When conducting its analysis, Bitwise culled data from 81 exchanges, which it selected based on reported bitcoin trading volume. Exchanges that reported less than $1 million worth of volume per day were excluded. Bitwise, which recently proposed a bitcoin exchange-traded fund (ETF), submitted this report to the U.S. Securities and Exchange …

The 20 Best Examples Of Using Artificial Intelligence For Retail Experiences

The basic retail experience hasn’t changed much over the years: go into a store, look for the right product and make a purchase. Artificial intelligence has the potential to completely transform the traditional retail experience and take it to the next level with personalization, automation and increased efficiency. ?And it’s already happening! Here are 20 of the best examples of AI to improve the retail experience.

How Artificial Intelligence Is Changing Science

No human, or team of humans, could possibly keep up with the avalanche of information produced by many of today’s physics and astronomy experiments. Some of them record terabytes of data every day — and the torrent is only increasing. The Square Kilometer Array, a radio telescope slated to switch on in the mid-2020s, will generate about as much data traffic each year as the entire internet. The deluge has many scientists turning to artificial …

INSIDE THE U.S. AND CHINA’S INCOMING ARTIFICIAL INTELLIGENCE COLD WAR

The great rivalry of the 20th century, at least from the America perspective, was between the United States and the Soviet Union. Geopolitical chroniclers see the great rivalry of the 21st century as between the U.S. and China. In the nine months between his inauguration and 9/11, President George W. Bush advanced the idea of China as America’s peer competitor. President Barack Obama executed the “pivot to Asia,” based on the argument that, while the …

Blockchain ETF Goes Live on London Stock Exchange to Help Generate ‘Real Earnings’ from the Tech

The launch of the first blockchain ETF on the London Stock Exchange has become a real milestone for the blockchain industry. At the current moment, there are around six blockchain ETFs that have been listed on Canadian or U.S. stock exchanges. Nevertheless, for investors in the UK, it is the first such an easily accessible opportunity to add to their portfolio investments in blockchain-related firms that’s why it will be interesting to observe how investors …

IBM Quietly Enters Crypto Custody Market With Tech Designed for Banks

IBM is coming to the crypto custody space. Later this month, Shuttle Holdings, a New York investment firm, will launch the beta version of a custody solution for digital assets built on IBM’s private cloud and encryption technologies. The companies won’t be storing cryptocurrencies and tokens themselves, but offering tools for others to do so. Potential users include banks, brokers, custodians, funds, family offices and high net worth investors who want to do self-custody, as well …

4 Major Blockchain Trends to Watch for in 2019

As 2018 marched along and the utility token market saw a slowdown, industry has been rife with talk of the arrival of security tokens. This is for good reason. The market has long-waited for the grand entrance of institutional investors – but they have not yet significantly entered the market. This has partially been attributed to the core offerings of ICOs. Utility tokens offering usability are simply not substantial enough to investors, who are used …

Point-Of-Sale (POS) Financing

POS financing certainly isn’t new. In 2016, merchants in nine different retail categories saw more than 160 million POS loan applications—only 53% of which were approved More than a quarter of consumers have used point-of-sale (or instant) financing when shopping online. More importantly, nearly half would like to be presented with the option to get instant financing when shopping online.

Open banking – build it and they will come?

When open banking began on 13 January 2018 with the launch of PSD2, the fintech twitterati were abuzz with predictions of the radical disruption of financial services. Industry pundits spoke about customers walking through a promised land of meaningful financial insights and competitive products. Not much has happened since other than a few small enhancements from the big banks and several fintech apps released. For example, Commerzbank has used open banking to tap into the Internet of things (IoT) …

Swiss Stock Exchange SIX Will Tokenize Equity on R3’s Corda Blockchain

SIX Group, the Swiss stock exchange operator, has picked R3’s Corda Enterprise platform as the underlying blockchain for the digital asset trading, settlement, and custody service it is building. Another area of focus for SIX is the handling of so-called security token offerings (STOs). Indeed, in an interview with Reuters last month SIX chairman Romeo Lacher said the exchange plans to eat its own dog food, so to speak, by looking to raise some money itself via …

THE NSA MAKES GHIDRA, A POWERFUL CYBERSECURITY TOOL, OPEN SOURCE

The NSA announced Joyce’s RSA talk, and Ghidra’s imminent release, in early January. But knowledge of the tool was already public thanks to WikiLeaks’ March 2017 “Vault 7” disclosure, which discussed a number of hacking tools used by the CIA and repeatedly referenced Ghidra as a reverse-engineering tool created by the NSA. The actual code hadn’t seen the light of day, though, until Tuesday—all 1.2 million lines of it. Ghidra runs on Windows, MacOS, and Linux …